Community Corner
Gasoline Price Falls to Lowest Since Feb. 3
Prices continue to drop as the Fourth of July holiday approaches.
The average price of a gallon of self-serve regular gasoline in San Diego County fell Wednesday to its lowest amount since Feb. 3, decreasing 1.6 cents to $3.789.
The average price has dropped 41 of the past 42 days and is 13.2 cents less than one week ago, 49.6 cents lower than one month ago and 3.7 cents below what it was one year ago, according to figures from the AAA and Oil Price Information Service.
The falling pump prices are the result of lower crude oil prices stemming from lower demand caused by a slowdown in the global economy, according to Jeffrey Spring of the Automobile Club of Southern California.
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Crude oil costs account for two-thirds to three-quarters of the price of a gallon of gasoline, said Tupper Hull of the Western States Petroleum Association, a trade association representing oil companies in six western states.
-City News Service
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